If Output Increases by 5 Percent and Population Growth Is

question 84

Multiple Choice

If output increases by 5 percent and population growth is 3 percent, per capita output grows by about:

• A)2 percent.
• B)3 percent.
• C)5 percent.
• D)8 percent.

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Definitions:

Inflation Rate

The percentage increase in the general price level of goods and services in an economy over a period of time.

Peso-Dollar Exchange

The rate at which the currency of one country (Peso) is exchanged for the currency of another country (Dollar), which fluctuates over time.

Purchasing Power

The ability of an individual or group to buy goods and services with their income.

Internet of Things

A network of interconnected devices, machinery, and systems designed to collect, exchange, and analyse data, enhancing automation and efficiency.